Monday, August 22, 2011

Elton Performed Private Show for Wall St Banker

Last weekend Leon Black, the head of Apollo Group, a top private equity firm, hosted a big, extravagant birthday party: his 60th.

Elton John did the singing, Vera Wang did the dressing and and it didn't help that attendees like Sen. Chuck Schumer (D-NY) and Mayor Mike Bloomberg added to an air of corporatist complicity.

Flashback to 2007: Steve Schwarzman, the head of Blackstone, a top private equity firm, also hosted a big extravagant party: his 50th.

Both made headlines for their indulgent perks. At Black's, Elton John performed. His asking price is typically $1 million. At Schwarzman's, Rod Stewart, who costs the same, performed.
Schwarzman's party was later referred to as the apex of the lavish spending that ultimately led us months later into the financial crisis.

- Business Insider

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